Western firms in Russia face growing risks as exit remains difficult

Western firms that remain in Russia face reputational damage and an increasingly unpredictable environment as the government changes rules and threatens asset seizure.
Major companies like Carlsberg and Danone have had Russian operations seized by the state, making it harder for others still looking to exit.
Firms like Nestle, PepsiCo, and Raiffeisen are among the estimated 500 Western companies still operating in Russia, paying taxes and facing criticism.
Heineken struggled to find a buyer for its Russian business despite announcing plans to exit over a year ago, citing challenges getting exit approval.
As Western firms pull out, non-Western companies gain market share in Russia, but sanctions may limit Russia's long-term growth potential.

cnbc.com

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Posted 9/11/2023, 5:22:40 AM